What Does A Property Management Company Do?
When it comes to a property management company the exact duties that these companies perform are marketing their client rentals, handling any maintenance issues, collecting rent, handling any tenant complaints, and implementing evictions if needed. Property management companies are usually hired by individuals who own commercial properties such as apartment complexes and residential properties such as houses or even mobile homes. Most individuals hire property managers because this is a very stressful and demanding occupation. So if you are an individual owner and you do not live in the state where you own your property or you are still working a full-time job the demand of managing a property can be very stressful and overwhelming. This is why individuals who are property managers know how to balance everyday tasks, responsibilities, and they can handle stress well. Basically, a successful property manager is the type of individual who is patient and knows how to manage people well.
How To Manage Properties Successfully?
One of the keys to successfully running a property management company is that you must have in-depth knowledge of any property that you are managing so you can quickly and efficiently answer any questions that a potential renter may have. Having this in-depth knowledge ultimately does two things. The first thing that it does is it saves time, so you do not have to look up information about the property. The second thing that it does it makes the property manager look very knowledgeable and extremely professional to the renter. The type of information that you would like to provide to the potential renter is information such as what shopping centers are nearby, restaurants, and freeways. If at all possible, try to avoid information that involves anything about the crime rate, demographics involving race, and the school district.
A Property Manager has to Be Available to Their Renters/Owners At All Times
Another good trait that a property manager should have that can lead to extreme success is being available to the owners of the property and renters of the property at all times. This trait is extremely beneficial because it builds trust and a positive rapport between the property manager, owner of the property, and the renter. As a property manager it is extremely important to have a positive relationship with the owner of the property and the renter. So answering emails and phone calls in a timely manner is good for business and lets the owner of the property and the renter know that they can count on you. That does not mean to put your personal life on hold but it does mean that you should always be available during normal business hours. Outside of normal business hours if it is an extreme emergency then you should make yourself available as well.
Have Effective Marketing Techniques
Successful property management companies should know how to market themselves and their company to commercial property owners. The type of marketing that should be done is that you have the ability to show the commercial property owners that you or your company has the capability to bring in quality tenants and manage the property in a quality and efficient manner. You also want to show them how you will attract potential renters to the property and most of this can be done online on websites such as rent.com, realtor.com, Craigslist, or Zillow. You also want to have a business Facebook page so the owners of the commercial property can see that your business has a web presence where you can also market their property.
Put Together A Great Team
Having a great team is essential in the property management industry. The reason why is because there is so many duties that comes with this industry one person cannot do it all. One of the best systems that can be put in place is the tier system. The tier system consists of a property manager, leasing agent, assistant property manager, and a maintenance team. If you are a commercial property owner and If you would like to discuss how our property management team can manage your property for you, please contact us at (310) 945-5155 or send us a message online by clicking here.